AI Fintech Optasia Climbs in JSE Debut, Eyes Asia Expansion (2)

AI-powered fintech firm Optasia Group rose in its debut on the Johannesburg bourse that marked South Africa’s biggest initial public offering this year.

The stock opened at 20.75 rand Tuesday and was at 19.71 rand by 11:22 a.m., giving the Dubai-based firm a market value of 24.3 billion rand ($1.4 billion). Optasia placed shares at 19 rand apiece last week.

“An African company listing on an African exchange was just a natural thing for us,” founder Bassim Haidar said.

The company is eying expansion in Africa, Asia and Latin America. It will also widen its credit ...